Maryland property tax question (comparable sales, 2009, houses)

[marylandtax]

I’m currently looking at houses in Howard County that are assessed by the State of Maryland for ~ $900K (2009 tax year) which results in an annual property tax bill of ~ $10K. However, there has been a significant drop in higher price homes and listing prices are closer to $650K.

I found this on the Maryland Department of Assessments and Taxation website:
APPEAL UPON PURCHASE
If you purchase a property and the property is transferred after January 1 but before July 1, you may file an appeal within 60 days of the transfer. After filing a written appeal, you will be scheduled for a hearing; or, if you prefer, your written appeal can be reviewed instead of having a hearing.

Has anyone tried this? Do you think this appeal will work?

[hedgie]

If you have the documentation on comparable sales, you stand a chance of winning the appeal. If I remember correctly, there are three levels of appeals. The first is the written appeal, the second is a meeting at the state appraiser's office and the final appeal is a hearing. It's worth a shot. The only thing you have to lose is some time.